Summer often marks the beginning of the fiscal year for many nonprofits and fundraising organizations; and while it’s a great time to break creative boundaries and reflect, some organizations are facing more serious challenges. The not-so-bright side of entering a new fiscal year can sometimes be dealing with new or unexpected budget cuts. When revenue sources change, it’s time to start looking for new ones and for ways to amplify existing resources. While we do recommend building in adequate time for reflection, we also recommend being strategic with your analysis. Ongoing evaluation is crucial for fundraising success, and a great place to start if you’re dealing with dwindling revenues is your donors.
The Wax & Wane of Individual Gifts
Donor retention is a perpetual concern for any fundraiser; and whether we want to face the numbers or not, the truth is that for every 100 donors gained we lose 103. The most recent issue of Bloomerang’s Fundraising Effectiveness Project says that 57% of donors attained each year won’t give again. It’s staggering, but it’s reality. If one thing you notice at this point in your year is that your donor revenues have dipped, then maybe your summer reflection project is figuring out how to combat attrition. Luckily, we have a remedy for that.
Retain Your Donors By Increasing Overall Engagement
Our latest whitepaper, Three Definitive Ways to Retain Donors and Increase Engagement, is chock full of valuable insight that will (hopefully) help get you over the hurdle. Improved retention can bring nonprofits an increase of total donors, better relationships, more planned gifts, volunteer or board service, and larger gifts over time. There are also marketing implications to having a base of loyal donors. When your constituents are excited and feel valued, they’re more motivated to spread the word.
Our paper will provide you with an overview of:
- Advanced personalization techniques
- Cross-channel integration
- Data optimization
- Insight into drivers of donor loyalty
Interested? Get access to the paper here.